All posts tagged level 3

The early-2000s dotcom bust was not kind ambitious telecommunications network companies, but Level 3 Communications survived to fight another day. In 2011 it even bought out its bubble-era rival Global Crossing for about $1.9 billion, a fraction of Global Crossing’s $47.5 billion market cap at its February 2000 peak.

And today, Level 3 announced another deal, the latest in a string of acquisitions the company has made in recent years. This time it’s TW Telecom, a company that provides telecommunications services to businesses, which Level 3 will buy for $5.7 billion.

Level 3 has not been afraid to do big deals and hold large amounts of debt ($8.3 billion worth at the end of 2013). It also hasn’t proven particularly profitable: the company, which went public in 1998, has posted annual losses every year since 1999. More on this after the jump… Read More »